Volume - 13 | Issue-1
Volume - 13 | Issue-1
Volume - 13 | Issue-1
Volume - 13 | Issue-1
Volume - 13 | Issue-1
In this study, we investigate the role that certain cognitive bias plays as a factor that influences the purchasing decisions made by consumers. The study includes the following biases: the confirmation &consistency bias, the anchoring bias, the paradox of choice, the Pygmalion effect, and the Barnum effect. With the use of the Likert Scale, the research requested 102 participants (N=102) to fill out a structured questionnaire with the intention of eliciting their thoughts on a variety of bias influences. The questionnaire was designed to collect their responses. Following the completion of the data collection process, a reliability study using Cronbach's Alpha and Maxwell's Omega was carried out. The findings of the study were found to be credible. After that, the Spearman Correlation and Ordinal Logical Regression statistical methods were utilized in order to determine the link between the variables and establish the level of influence that a specific bias would have on the purchasing decisions of consumers. This study found that there are three types of biases which influence the purchasing decisions of consumers. Steps were taken to mitigate errors and reduce bias. This study can be of interest to marketers, brand strategists, product managers, digital marketers, organizations, and those who wish to grow their client base.